Purpose of a business loan
The refinancing requires an amount of € 190,000, which will be used to extend the loan period until the best conditions are discussed, agreed and signed, in the procedure of selling the plot, to potential investors.
Loan collateral
Mortgage of the first line of existing real estate - Mortgage. The loan will be repaid from sale of the mortgaged property, from the sale of the company's development assets, current and future profits or by refinancing the loan.
Investment risk: B (medium)
LTV: 56%
Pledged property: Land plot (commercial use, Nr.4400–1801-1386), the total area of which is 0.7920 hectares, address Vilniaus st.38B, Putiniškių village, Vilnius district.
Value of mortgaged property: € 341,000
Interest:
• When investing from 100 € - interest 11.5%
• When investing from € 5,000 - interest 12%
• When investing from 10 000- € - interest 12.5%
Loan term
12 months (with the possibility of repayment earlier, but not earlier than after a period of 4 months).
If the Borrower repays the Loan amount or part thereof earlier than 4 months after the due date of 12 months, it undertakes to pay interest to the Lender for a period of 4 months. After a period of 4 months, the Borrower may repay the loan (together with the applicable interest) without any additional fees.
Company loan repayment period
Estimated start date of the loan: 2020 12 07
Expected repayment date of the loan: 2021 04 01 - 2021 06 01